1. Field of the Invention
The invention is related to the field of communication networks and, in particular, to authorizing financial transaction, such as credit card purchases, through an IMS network and IMS devices.
2. Statement of the Problem
Credit cards and debit cards have become a popular alternative to cash and checks for making purchases. Thus, it is common for a person to carry multiple credit cards, a debit card, and an ATM card in a purse or a wallet. It is also common for a person to carry a driver's license, a medical insurance card, a frequent flyer card, and numerous other cards serving a variety of purposes. Due to the popularity of mobile communications, it is also common for a person to carry a cell phone, a PDA, a BlackBerry or some other mobile communication device.
A person in possession of a credit card, a debit card, etc, is able to purchase a variety of items without having to prove they are authorized to make the purchase. For example, items may be purchased over the internet by entering a credit card number, an expiration date, and a billing address. The website through which the purchase is made frequently accepts the transaction without verifying whether the purchaser is authorized to make the purchase. If a financial transaction is made in person, then a merchant may compare a purchaser's signature to the back of the credit card to verify that the signatures match. However, a verified signature may not correctly indicate that the purchaser is authorized to make the purchase. For example, assume that a parent gives a child a credit card to use “in emergencies”. If the child subsequently purchases a video game with the credit card, then the merchant may correctly verify that the child indeed is the owner of the credit card, but the child is still not authorized to make the purchase where the parents are concerned.
It may be desirable to add a layer of protection on credit card transactions and other electronic purchasing transactions so that an authority figure, such as a parent or boss, can control whether or not purchases can be made.